NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are up 4.45% to $16.45 in after-hours trading after U.S. stocks rose, and as energy companies rallied and data on construction spending boosted confidence in the economy, Bloomberg reports.
Energy shares climbed 1.3% even as oil resumed a selloff.
"The energy sector is up while oil is down. Maybe the thought is the sector fell too far, too fast," Boston Advisors LLC analyst James W. Gaul told Bloomberg.
Shares of Oasis Petroleum traded with heavy volume today as more than 6.95 million shares changed hands by the market close in New York, compared to the average of 3.93 million.
Separately, TheStreet Ratings team rates OASIS PETROLEUM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate OASIS PETROLEUM INC (OAS) a HOLD. The primary factors that have impacted our rating are mixed--some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."